New report highlights 5 challenges affecting energy security for UK businesses

Demand for power is increasing dramatically and expected to double – or even triple – by 2050 in order to decarbonise the economy. ‘Energy security in an increasingly electrical world’ explains what businesses can do if they discover there is not enough capacity in the local grid to meet their electricity demands, or that bottlenecks in the application process for new grid connections will cause delays to production and decarbonisation schedules.

If the UK’s electricity networks are to meet the increased demands for electric fleets, heat pumps and net zero industrial processes – whilst maintaining secure supplies of electricity – significant reinforcements and upgrades will be required throughout the transmission and distribution networks, as will businesses’ own private wire networks.

Vattenfall’s report highlights the options and the benefits of partnering with an independent distribution network operator (IDNO), who offers an alternative route to connect to the electricity grid, contributes to the costs of network upgrades by investing their own funds, and can reserve grid capacity for free on behalf of their clients.

Likewise, for private wire networks operators concerned about the responsibility of upgrading ageing infrastructure or lacking the required funds, Vattenfall’s report details how new models for energy infrastructure management, such as Power-as-a-Service, provide capital funding for upgrades, renewable energy systems, and energy efficiency improvements, as well as removing the risks associated with the ongoing maintenance and operation of complex private wire networks.

Suzanna Lashford, Business Development Manager at Vattenfall Networks, said: “It doesn’t matter what your business does, everyone will need more electricity to reach net zero. But it is vital to start mapping out your transition now to secure access to power, avoid downtime, and loss of revenue from power outages. Our new report provides expert insights and offers UK businesses solutions for the challenges emerging in the energy sector, to help them to plan for net zero and ensure security of supply.”

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Read the article online at: https://www.energyglobal.com/special-reports/17032023/new-report-highlights-5-challenges-affecting-energy-security-for-uk-businesses/